Future Mobility, a Chinese automobile company, will build a plant in China to produce electromobiles, company's CEO, Daniel Kirchert, said in an interview to Bloomberg. The project is estimated at 11,6 billion yuan ($1,7 billion).

Initial production capacity of the facility will amount to 150,000 vehicles per year, this figure is expected to double in future. The plan is planned to be erected in the Chinese town of Nanking.

On the 20th of January, Future Mobility intends to sign a relative agreement with the city administration.

Future Mobility is a Chinese start-up, connected with Tencent telecommunication company and Hon Hai Precision (Foxconn) electronics manufacturer. There are former top managers from BMW and Nissan among the company's founders.